Public cybersecurity incident reports or company announcements

SEC Fines Four Tech Firms $7 Million for Negligently Misleading SolarWinds Disclosures

Oct 22, 2024, 04:47 PM

The U.S. Securities and Exchange Commission (SEC) has fined four tech companies a combined total of $7 million for misleading disclosures related to the 2020 SolarWinds cyber attack. The companies involved are Unisys, Check Point, Mimecast, and Avaya. These firms were found to have deliberately downplayed and minimized the impact of the breach, which was allegedly carried out by Russian operatives. The SEC's action underscores the importance of transparency and accurate reporting in cybersecurity incidents. The companies were fined for negligently downplaying the impact of the espionage attack.